Strong Consideration Should be Given to Holding On to your FEHB in retirement.
Many Federal and Postal retirees will have a critical decision to make about their Health Benefits moving into retirement and whether or not they should transport their FEHB coverage. If your spouse has a health care plan outside of government and you have FEHB, in conjunction with you potential Medicare elections, you should careful analysis should be exercised to determine what fits best into your plan to retire well.
- Also Read: 4 Ways Medicare Could Affect Postal Employees’ Health Coverage and Out-of-Pocket Costs in Retirement
- Also Read: The Surprising Benefits Law Enforcement Officers Get That Go Beyond Standard Federal Perks
- Also Read: Five CSRS Pension Facts That Could Make a Huge Difference in How You Approach Retirement
If you are still working when you reach age 65 and qualify for Medicare, your FEHB will remain the primary. It should also be noted that there are many services that standard Medicare does not cover and some, even, that FEHB does not cover. A careful examination of what services are covered under both FEHB and Medicare is critical to determine the best health benefit fit for you and your family.
When you become eligible for Medicare, it is very wise to look at the important benefits your FEHB offers, particularly when compared to Medicare’s prescription drug coverage. The drug prescription coverage offered via FEHB is second to none. Therefore, even when you become eligible for Medicare, don’t forget to consider holding on to your FEHB so that retiring well will be a part of your plan to live well in retirement.
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